CSL to purchase 80% stake in Chinese firm Ruide for $352m
Global biotechnology company CSL has agreed to buy 80% stake in Chinese plasma-derived therapies manufacturer Wuhan Zhong Yuan Rui De Biological Products (Ruide) from Humanwell Healthcare Group for $352m.
With the completion of the acquisition, CSL will develop a strategic presence in the Chinese domestic plasma fractionation market and complement the 20-year long position of its CSL Behring business in China as a supplier of imported albumin.
CSL managing director and chief executive officer Paul Perreault said: “We will contribute our extensive plasma manufacturing expertise with a goal to expand and grow plasma collection capabilities and introduce new products into this high-growth market.
“In co-operation with Humanwell, we intend to work closely with local regulators and the sector to help improve plasma safety and quality, as well as enhance the plasma donor experience.”
Ruide develops, produces and commercialises plasma-derived products such as albumin, immunoglobulin (Ig) for intravenous (IV) injections and several hyperimmune Ig products, for the Chinese domestic market.
In addition, the company also owns an advanced pipeline of multiple coagulation factor products, including plasma-derived Factor VIII, expected to be launched in the coming years.
Humanwell chairman Dr Wang Xuehai said: “Combining CSL's advanced technical capabilities with Ruide's established presence in the Chinese plasma sector will enable the partners to improve access to innovative therapies for patients that need them.”
The transaction will enable CSL to contribute its capabilities across the full range of plasma products currently manufactured by the biotechnology company in markets outside China.
Under the deal, CSL will be responsible for operational control of Ruide.
Subject to regulatory approval by relevant government authorities and Humanwell shareholders, the closing of the transaction is expected by the second half of this year.